29/06/2024
*Exchange Rate Automation Module:*
CBIC will introduce the automated Exchange Rate Automation Module (ERAM) system on July 4, replacing the manual process of notifying exchange rates.
*Key Features of ERAM:*
*Automated Publishing*: ERAM will automatically publish the exchange rates of 22 currencies online, enhancing the ease of access for importers and exporters.
*Publication Schedule:*
The exchange rates will be updated on the ICEGATE website twice a month, specifically on the evening of the 1st and 3rd Thursdays, and will take effect from midnight the following day.
*Accessibility:*
A link on the CBIC website will redirect users to the ICEGATE website where the published rates can be viewed. The rates will be stored for future reference, allowing users to check historical rates.